DATA 698 : Capstone Research Project

1 Overview

We are in totally different era of twenty first century, and it gives us very rare situation where any positive news would help the humankind. We want to use the historical CPI data and find the relation of it with the employment, in hope that we would have some positive news on employment by following the trend of the data in past.

We feel that lower CPI would result in more job opportunity, as the it gives space for more competition in small business across sectors.

2 Capstone Project on CPI and Employment

  1. The estimates of employment for 1998-2006 are based on the 2002 North American Industry Classification System (NAICS). The estimates for 2007-2010 are based on the 2007 NAICS. The estimates for 2011-2016 are based on the 2012 NAICS. The estimates for 2017 forward are based on the 2017 NAICS.
  2. Excludes limited partners.
  3. Under the 2007 NAICS, internet publishing and broadcasting was reclassified to other information services.
    1. Not shown to avoid disclosure of confidential information; estimates are included in higher-level totals.
    1. Estimate for employment suppressed to cover corresponding estimate for earnings. Estimates for this item are included in the total.
  • (NA) Not available.
  • (NM) Not meaningful.

Last updated: September 24, 2019- new statistics for 2018; revised statistics for 2014-2017.

3 Data Preparation

Load the required libraries

3.2 Show Relevant Employment Data

##    GeoFIPS            GeoName              Region       TableName        
##  Length:7084        Length:7084        Min.   :1.000   Length:7084       
##  Class :character   Class :character   1st Qu.:3.000   Class :character  
##  Mode  :character   Mode  :character   Median :5.000   Mode  :character  
##                                        Mean   :4.475                     
##                                        3rd Qu.:6.000                     
##                                        Max.   :8.000                     
##                                        NA's   :122                       
##     LineCode      IndustryClassification Description            Unit          
##  Min.   :  10.0   Length:7084            Length:7084        Length:7084       
##  1st Qu.: 517.0   Class :character       Class :character   Class :character  
##  Median : 712.5   Mode  :character       Mode  :character   Mode  :character  
##  Mean   : 872.1                                                               
##  3rd Qu.:1103.0                                                               
##  Max.   :2012.0                                                               
##  NA's   :4                                                                    
##      1998               1999               2000               2001          
##  Length:7084        Length:7084        Length:7084        Length:7084       
##  Class :character   Class :character   Class :character   Class :character  
##  Mode  :character   Mode  :character   Mode  :character   Mode  :character  
##                                                                             
##                                                                             
##                                                                             
##                                                                             
##      2002               2003               2004               2005          
##  Length:7084        Length:7084        Length:7084        Length:7084       
##  Class :character   Class :character   Class :character   Class :character  
##  Mode  :character   Mode  :character   Mode  :character   Mode  :character  
##                                                                             
##                                                                             
##                                                                             
##                                                                             
##      2006               2007               2008               2009          
##  Length:7084        Length:7084        Length:7084        Length:7084       
##  Class :character   Class :character   Class :character   Class :character  
##  Mode  :character   Mode  :character   Mode  :character   Mode  :character  
##                                                                             
##                                                                             
##                                                                             
##                                                                             
##      2010               2011               2012               2013          
##  Length:7084        Length:7084        Length:7084        Length:7084       
##  Class :character   Class :character   Class :character   Class :character  
##  Mode  :character   Mode  :character   Mode  :character   Mode  :character  
##                                                                             
##                                                                             
##                                                                             
##                                                                             
##      2014               2015               2016               2017          
##  Length:7084        Length:7084        Length:7084        Length:7084       
##  Class :character   Class :character   Class :character   Class :character  
##  Mode  :character   Mode  :character   Mode  :character   Mode  :character  
##                                                                             
##                                                                             
##                                                                             
##                                                                             
##      2018          
##  Length:7084       
##  Class :character  
##  Mode  :character  
##                    
##                    
##                    
## 
## Observations: 5,760
## Variables: 24
## $ LineCode    <dbl> 101, 101, 101, 101, 101, 101, 101, 101, 101, 101, 101, ...
## $ Description <chr> "Forestry and logging", "Forestry and logging", "Forest...
## $ GeoName     <chr> "United States", "Alabama", "Alaska", "Arizona", "Arkan...
## $ `1998`      <chr> "168100", "10193", "1397", "598", "7248", "7200", "698"...
## $ `1999`      <chr> "168700", "9637", "1455", "(T)", "7266", "7273", "727",...
## $ `2000`      <chr> "153300", "8852", "1307", "(T)", "6662", "6208", "693",...
## $ `2001`      <chr> "148400", "(D)", "986", "(D)", "6087", "6139", "637", "...
## $ `2002`      <chr> "144600", "8347", "858", "(D)", "(D)", "5917", "(D)", "...
## $ `2003`      <chr> "133800", "7929", "800", "(D)", "5716", "5340", "(D)", ...
## $ `2004`      <chr> "140100", "8222", "(D)", "363", "(D)", "5545", "(D)", "...
## $ `2005`      <chr> "147300", "8187", "790", "(D)", "5949", "5776", "(D)", ...
## $ `2006`      <chr> "142700", "8124", "623", "(D)", "(D)", "5610", "(D)", "...
## $ `2007`      <chr> "138100", "7800", "520", "(D)", "(D)", "5656", "(D)", "...
## $ `2008`      <chr> "136900", "7850", "460", "(D)", "5095", "5861", "(D)", ...
## $ `2009`      <chr> "119800", "7056", "440", "318", "4408", "4841", "(D)", ...
## $ `2010`      <chr> "111600", "6741", "(D)", "(D)", "4160", "4626", "579", ...
## $ `2011`      <chr> "116800", "6962", "(D)", "298", "4229", "4991", "558", ...
## $ `2012`      <chr> "134600", "7728", "505", "(D)", "(D)", "5603", "726", "...
## $ `2013`      <chr> "138000", "7970", "501", "388", "(D)", "5566", "755", "...
## $ `2014`      <chr> "133000", "7843", "525", "(D)", "(D)", "5256", "699", "...
## $ `2015`      <chr> "141300", "8059", "534", "(D)", "(D)", "5564", "(D)", "...
## $ `2016`      <chr> "138800", "7892", "503", "(D)", "4890", "5266", "795", ...
## $ `2017`      <chr> "123900", "7107", "(D)", "(D)", "4405", "4975", "691", ...
## $ `2018`      <chr> "117600", "6759", "401", "379", "4248", "4796", "641", ...
## Observations: 118
## Variables: 3
## $ LineCode    <fct> 10, 20, 40, 50, 60, 70, 80, 90, 100, 101, 102, 103, 200...
## $ Description <fct> "Total employment (number of jobs)", "Wage and salary e...
## $ NA          <fct> "A count of jobs, both full-time and part-time. It incl...

3.3 Load CPI Data

## [1] "cu_area"
## [1] "cu_base"
## [1] "cu_data_0_Current"
## [1] "cu_data_1_AllItems"
## [1] "cu_data_10_OtherWest"
## [1] "cu_data_11_USFoodBeverage"
## [1] "cu_data_12_USHousing"
## [1] "cu_data_13_USApparel"
## [1] "cu_data_14_USTransportation"
## [1] "cu_data_15_USMedical"
## [1] "cu_data_16_USRecreation"
## [1] "cu_data_17_USEducationAndCommunication"
## [1] "cu_data_18_USOtherGoodsAndServices"
## [1] "cu_data_19_PopulationSize"
## [1] "cu_data_2_Summaries"
## [1] "cu_data_20_USCommoditiesServicesSpecial"
## [1] "cu_data_3_AsizeNorthEast"
## [1] "cu_data_4_AsizeNorthCentral"
## [1] "cu_data_5_AsizeSouth"
## [1] "cu_data_6_AsizeWest"
## [1] "cu_data_7_OtherNorthEast"
## [1] "cu_data_8_OtherNorthCentral"
## [1] "cu_data_9_OtherSouth"
## [1] "cu_footnote"
## [1] "cu_item"
## [1] "cu_period"
## [1] "cu_periodicity"
## [1] "cu_series"

3.4 Show CPI Reference Data

3.4.1 Area

3.4.2 Base

3.4.3 Item

3.4.4 Periodicity

3.4.5 Series

3.4.6 Period

3.5 Combined Reference Data

3.6 Show CPI Data from Select Industry

3.6.1 CPI - US Food Beverages

3.6.2 CPI - US Housing

3.6.3 CPI - US Transportation

3.6.4 CPI - US Medical

3.6.5 CPI - US Education And Communication

4 Data Mapping - Employment vs CPI

4.1 CPI Data by Industry

4.1.1 Food & Beverages

4.1.2 Housing

4.1.3 Transportation

4.1.4 Medical

4.1.5 Education & Communication

Debabrata Kabiraj, Joseph Simone and Rajwant Mishra

Oct 1, 2020